Tech
Insurance companies or brokerages looking to acquire another company should perform due diligence not just on the financials of the target firm, but also its regulatory vulnerabilities during the M&A process. “The idea is to identify potential data breaches and cyber security problems before they become your problem,” said the blog Don’t Acquire a Company […]
By Jason Contant | April 23, 2019
3 min read
Managing cyber risk effectively means considering the business objectives and setting rules on who can declare a breach has occurred, speakers told insurance professionals at a recent conference. “There is a big connotation as it relates to the word ‘breach,’” said Michael Eubanks, senior vice president of information technology and chief information officer for the […]
By Greg Meckbach | April 23, 2019
Your client may or may not not need a chief security officer [CSO] on its board of directors, but cyber risk should nevertheless be high on its radar screen, speakers told insurance professionals Tuesday. “If the board doesn’t say, ‘Cyber security is our number one risk’ … then the [chief security officer] probably hasn’t done […]
By Greg Meckbach | April 17, 2019
Cyber insurance is a good tool to help clients understand their vulnerabilities, but carriers need to do a better job of pricing according to risk, speakers suggested at a recent conference. “There seems to be a lot of spit-balling on the pricing in the marketplace today and I think for buyers, that’s always problematic,” said […]
Pembridge Insurance Company is asking brokers in four provinces to tell auto clients how much they could save by using a usage-based insurance app. Some motorists do not want usage-based insurance, Bob Tisdale, president of Pembridge, said Friday in an interview. But still, the company encourages its brokers to present a quote from Pembridge as […]
By Greg Meckbach | April 12, 2019
2 min read
Artificial intelligence has not reached the point where it is replacing humans in the insurance industry because many processes still require human intervention, speakers said at a recent insurance conference. Artificial intelligence is used in some cases for client engagement – with a chatbot for instance, Charles Dugas, head of insurance at Elemental AI, said […]
By Greg Meckbach | April 11, 2019
Broker management system provider Applied Systems announced Wednesday it has acquired TechCanary. TechCanary is a cloud-based insurance customer relationship management (CRM) system built natively on the Salesforce.com platform for brokerages, managing general agencies (MGA), wholesalers and insurers. Details of the acquisition were not being disclosed, but the deal expands Applied’s sales and marketing solutions and […]
By Jason Contant | April 10, 2019
Machine learning and artificial intelligence can create liability risk if it makes decisions that would be inappropriate or even illegal if a real person made them, a risk expert warns. “If you train an algorithm with data that has underlying sexist or racist data, you may end up making a racist or sexist machine learning […]
By Greg Meckbach | April 8, 2019
HR
Applied Systems has appointed Steve Whitelaw as vice president of industry and partner relations for the Canadian marketplace. With more than 20 years of technology leadership and industry relations experience, Whitelaw was previously vice president of IT planning, execution and operational effectiveness at Travelers Canada. “The industry is undergoing digital transformation, and it is critical […]
By Jason Contant | April 5, 2019
TORONTO – The electric vehicle road trip is becoming a practical reality as an increasing number of players work to close gaps in Canada’s fast-charger networks and ease fears of getting stranded along the way. New entrants like Petro-Canada and Electrify Canada are working to add dozens of fast-chargers across the country this year, building […]
By Greg Meckbach | April 4, 2019
4 min read
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